New help launched for second-time buyers in Wolverhampton

Morris Homes is helping downsizers in Wolverhampton take advantage of Help to Buy, the Government backed initiative, with its new Smart Move scheme.

Morris’ new initiative helps people sell their existing home so that they can then use Help to Buy to purchase their second property. The Smart Move scheme sees the housebuilder’s sales advisors work with local estate agents for six weeks to find a buyer for the current property, to speed up the selling process.

Once the house has been sold the downsizer can then reserve their new apartment at Morris’ Eden Fields development, where they can take advantage of Help to Buy.

With Help to Buy, second-time buyers will only need a five per cent deposit to buy a new build home, with the Government providing 20 per cent of the deposit in the form of a loan, which is interest-free for five years.

Cindy Cade, regional sales director for Morris, said: “Help to Buy is an excellent way to buy a house without the need to save for years to fund a deposit.

“The initiative is very popular with first-time buyers, but isn’t being used to its full advantage by buyers that want to downsizer now their children have moved away, or that don’t want the hassle of maintaining a larger home.

“This is where our Smart Move scheme can help, and we have launched it at our Eden Fields site to speed up the moving process and enable people to use Help to Buy to get on the move more quickly. The scheme has been very popular and in the majority of cases a buyer is found within six weeks.”

Help to Buy was launched by the Government to make buying a new home possible by reducing the deposit needed to buy a house. The scheme has been credited with helping to drive growth in the property market, and more than 9,000 properties have now been reserved under the initiative.

Morris has a selection of two-bedroom apartments on sale at Eden Fields that are ideal for downsizers. Prices start at £130,750 or £104,600 with Help to Buy.

To learn more about the Smart Move scheme speak to the sales advisor at Eden Fields at Charles Hayward Drive, Sedgley, Wolverhampton, WV4 6GB, open Thursday to Sunday 10.30am – 5.30pm, or visit morrishomes.co.uk.